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Californians Can Buy and Sell ADU Homes Like Condos Thanks to AB 1033

It’s a great time in California to own an ADU. Last year, our government made it easier than ever to build authorized accessory dwelling units (ADUs). But now, thanks to Assemblyman Phil Ting’s (D-San Francisco) recently drafted Assembly Bill 1033, it’s becoming just as easy to sell these units as ADU homes the way one would sell a condo. It’s a big step toward ...

Harvard Heights July 2024 Market Update: Absorption Rate and Homeless Encampments Policy

Market Overview For July 2024, Harvard Heights (90006) has an absorption rate of 14%. This metric is calculated based on 14 active listings and 2 properties sold during the month. The average sales price was $924,500, and properties typically spent 23 days on the market (DOM). Impact of Governor Gavin Newsom's Homeless Encampment Policy In a significant move, Governor Gavin...

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July 2024 Market Update for Koreatown, 90005: Absorption Rate and Homeless Encampments Policy

Absorption Rate Analysis As of July 2024, the absorption rate for Koreatown, 90005 stands at 25%. This figure is derived from the current 8 active listings and 2 properties sold over the past month, with an average sales price of an astounding $5,340,000. The exceptionally high average sales price can be attributed to the significant lack of inventory in the area, leading to heightened c...